SAN DIEGO, May 20, 2019
/PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O),
The Monthly Dividend Company®, today announced that it
closed on a private placement of £315 million senior unsecured
notes of the company due 2034. The Sterling-denominated notes have
a fixed interest rate of 2.73%. Net proceeds from the offering will
be used to fund a portion of the purchase price of the company's
£429 million sale-leaseback transaction with Sainsbury's, and, to
the extent not used for that purpose, to fund potential investment
opportunities and/or for other general corporate purposes. As
previously announced, the company has signed a definitive agreement
to acquire, from a joint venture of affiliates of J Sainsbury PLC
("Sainsbury's") and British Land PLC, 12 properties located in the
United Kingdom under long-term net
lease agreements with Sainsbury's. The company expects to close on
the Sainsbury's transaction on or around May
22, 2019.
The notes were sold in reliance on the exemption from
registration provided by Section 4(a)(2) of the Securities Act of
1933. The Notes have not and will not be registered under the
Securities Act or any state or other jurisdiction's securities laws
and may not be offered or sold in the
United States absent registration or an applicable exemption
from the registration requirements of the Securities Act and
applicable state or other jurisdictions' securities laws.
Forward-Looking Statements
Statements in this press release that are not strictly
historical are "forward-looking" statements. Forward-looking
statements involve known and unknown risks, which may cause the
company's actual future results to differ materially from expected
results. These risks include, among others, general economic
conditions, local and foreign real estate conditions, tenant
financial health, the availability of capital to finance planned
growth, continued volatility and uncertainty in the credit markets
and broader financial markets, property acquisitions and the timing
of these acquisitions, charges for property impairments, and the
outcome of any legal proceedings to which the company is a party,
as described in the company's filings with the Securities and
Exchange Commission. Consequently, forward-looking statements
should be regarded solely as reflections of the company's current
operating plans and estimates. Actual operating results may differ
materially from what is expressed or forecast in this press
release. The company undertakes no obligation to publicly release
the results of any revisions to these forward-looking
statements that may be made to reflect events or circumstances
after the date these statements were made.
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SOURCE Realty Income Corporation